Heretic Returns: DownWithInfidels is Positive Points; Peter Schiff 16 Sep 08
The Heretic, DownWithInfidels returns after a Death at the Gold Stake. DownWithInfidels
hater of the American "borrow your way into prosperity" and one of the biggest Gold BULLS in CAPS, has returned back to positive territory. Thanks to the gold rally and a +800 points day.
Nothing is more fun then watching a one sided trading, loud mouth getting a Fool's Bennie Hat of humiliation. BRIC buyers, and Commodity Bulls have been handed their share of Bennie Hats and (< 20)s lately.If you like Gold and hate American Consumption based stocks, DownWithInfidels portfolio has been discounted 4K points in the last couple months. His Gold stocks look pretty cheap right about now...
Commodities are in a bubble, just like about every other financial asset. But I would rather own a commodity producer then ANY financial or consumption based economy stock.
I WOULD RATHER BUY AND PHYSICALLY HOLD GOLD (not silver), then hold some mysterious gold stock.
REMEMBER: The government can nationalize ANY asset (including insurance?). They can take over a mine, a factory or your safety deposit box or GLDs holdings. Right? They have done this before. Right?
"The FEDS balance sheet is infinite..."
Former FED Reserve Governor Wayne Angel, on Fast Money 17 Sep 08
Peter Schiff and Glenn Beck 9-16-08